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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

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  • RES 4: 135-23 High Feb 24
  • RES 3: 135-22 2.618 proj of Jun 17 - 21 - 25 price swing
  • RES 2: 135-19+ 50% Aug'20 - May'21 Sell-Off
  • RES 1: 135-14 High Aug 04
  • PRICE: 134-26 @ 12:10 BST Aug 05
  • SUP 1: 133-26 Low Jul 19
  • SUP 2: 133-02/132.30 50-day EMA / Low Jul 14 and high Jun 21
  • SUP 3: 132-24+ Bull channel base drawn off the May 30 low
  • SUP 4: 132-06 Low Jun 30 and Jul 1

Treasury futures cracked the top end of the recent range yesterday, extending the recent gains toward 135-14. Nonetheless, the intraday gains were short-lived, with prices reversing into the close to trade back below the 200-dma. Key short-term support is at 133-26, Jul 19 low and the outlook is bullish above it. A break lower would signal scope for a deeper pullback. 135-14 is the bull trigger, a break opens 135-19+, a retracement level.